Investment Evolution Credit PLC - AQSE-listed financial services firm specialising in online consumer loans - Hires Axis Capital Markets as corporate broker, which will include running GBP100 million bond offering. Investment Evolution Credit Chief Executive Officer Paul Mathieson says: "Within only days of launching our up to GBP100 million 15% per annum IEC Bond offering, we are excited to announce significant initial investor interest and the appointment of a leading UK institutional corporate broker, Axis Capital Markets, to conduct our bond offering." Axis Capital Markets CEO Richard Hutchison says: "We are pleased to be engaged as corporate broker for Investment Evolution Credit. IEC is an exciting fintech company on the verge of a potentially rapid growth cycle to be funded by the attractive IEC 15% bond offering."
On Wednesday last week, Investment Evolution Credit launched the bond offer with a 15% fixed rate per year over five years, payable quarterly. It said the proceeds will be used "solely to fund expansion of the company's consumer loan portfolio and shall not be used for funding the company's working capital or for any other purpose".
Current stock price: 40.00 pence
12-month change: Multiplied from 4.50p since admission in mid-December
By Greg Rosenvinge, Alliance News senior reporter
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